Finance
The Indian stock market’s benchmark indices, the Sensex and Nifty 50, both rose more than 1% on Wednesday, November 6, as news of former President and Republican candidate Donald Trump’s decisive lead in the 2024 US election boosted market sentiment.
Early election trends show Republican candidate Donald Trump topping the US Presidential Polls in 2024. According to AFP, the former US President leads by 266 electoral votes and has won control of more than 27 states.
During the session, the Sensex and Nifty 50 both rose by more over 1%, reaching 80,569.73 and 24,537.60, respectively. The 30-share Sensex ended 902 points, or 1.13 percent, higher at 80,378.13, with 25 equities in the green. The Nifty 50 finished at 24,484.05, up 271 points, or 1.12%.
The top Sensex gainers were TCS, Infosys, Tech Mahindra, HCL Tech, and Adani Ports. In contrast, Titan, IndusInd Bank, Hindustan Unilever, Axis Bank, and HDFC Bank were the index’s laggards.
The BSE Midcap and Smallcap indices gained 2.28 percent and 1.96 percent, respectively.
The market capitalization of BSE-listed corporations increased to roughly ₹453 lakh crore from ₹445 lakh crore in the previous day, increasing investor wealth by approximately ₹8 lakh crore in a single session.
In intraday trade on the BSE, over 200 stocks rose to new 52-week highs, including Coforge, City Union Bank, Deepak Fertilizers, eClerx Services, Gillette India, Mankind Pharma, and National Aluminium Company.
All sectoral indexes climbed in trading, topped by the Nifty IT index, which increased 4%, followed by the Nifty Realty and Oil and Gas indices, all of which rose about 3%.
Consumer durables increased by 2%, while auto, media, metal, pharmaceuticals, and public sector banks each increased by more than 1%.
Source: Mint
